It's not just battery companies. Big oil is facing an existential crisis. Shell recently bought a German battery company, Sonnen. A highly rated competitor to Tesla in the home battery market but their products were too expensive relative to Tesla. With Shell backing they can develop the economies of scale required to compete. And that is what it is all about.. Scale.
Big Oil need to find a way into this new energy medium and FAST because they are rapidly losing capital and share holders are jumping over board like its the Titanic.
It's already at the point where they can't control Tesla that ship got away from them. They must realize that it is last chance saloon. They are literally seconds from midnight from becoming mid cap has beens.
And there is Novonix sitting there like a strawberry ripe for the plucking.
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